Work demand under NREGS down, again
In August, demand for work under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) fell for the tenth consecutive month, with 19 million individuals seeking work—a 17% decrease from the previous year. This decline is attributed to increased economic opportunities and favorable monsoon rains, which reduced the need for unskilled labor. Key Points
Economic TimesUtility vehicle export in fast lane, overtakes that of small cars
Bucking the trend, “Made in India” SUVs (Sports Utility Vehicles) are in demand in many geographies as exports increased by 50.5 per cent in May... Key Points
The Tribune IndiaWe are very constructive on the entire real estate sector: Harish Bihani
So, regardless of what happened in the past month when people got a little worried about the impact on mid and smallcap due to some notification by the industry body or by a certain other notifications, I guess on average you have a decent medium term time horizon. Things are looking fine to us, we have enough ample opportunities to invest and we are looking for ideas all across. Key Points
Economic TimesAre select metals prices indicating China’s economic revival? 5 metal stocks with upside potential of up t
Few days back, there was a sudden spurt in oil prices, though they might have cooled down a bit. The question is why this sudden spurt when there has not been any rise in tension in the Middle east and it is not even the peak season where demand for heating oil could have led to sudden rise. Now combine this with price trends in some non ferrous metals like copper which have inched upward to form a one year high. While to some it might appear far-fetched at this point of time as there have been many false starts, are the commodity markets giving an indication that finally there are some green shoots in the Chinese economy? The risk is the US election result. Will the election results help in resolving the trade issue or continuation of the issues ? Key Points
Economic TimesGurmeet Chadha on 2 investment themes he is betting on in FY25
Gurmeet Chadha discusses market performance, capex cycles, rising retail investment, financial opportunities in HDFC, Kotak, NBFCs, and energy stocks like Power Grid, emphasizing the shift towards equity ownership. He believes In fact, this $3-billion SIP book will become a $5 billion monthly SIP run in a couple of years from now. Key Points
Economic Times
Why Gasoline Prices Are Rising Faster Than Usual This Year
Fuel costs are once again driving inflation. Don’t panic. Key Points
mintRBI likely to hold rates steady until at least July: Poll
India's economy grew a stellar 8.4% in the fourth quarter of 2023, the fastest among major economies. Inflation, which is still close to the upper band of the central bank's 2%-6% target, does not hint at an imminent rate cut. Key Points
Economic TimesBroking companies likely to give out generous increments, bonuses to top talent across the board
Bonuses at some of the leading companies could range from three to seven months of additional pay, said top executives. Average increments could be in the range of 10-15%, with high performers, especially in technology and product development roles, likely taking home 30-40% more, they said. Key Points
Economic TimesSummer prediction: Stormy with tonnes of wanderlust!
Uttarakhand received 4 million, 7.5 million and 8.3 million tourists in April, May and June, respectively, last year. The Himalayan state expects to surpass last years performance this summer season, said Sumit Pant, director of marketing and publicity at Uttarakhand Tourism Development Board. Bookings are “very healthy” on all leisure routes, both domestic and international, said an official, who heads sales at an airline. Key Points
Economic TimesThe Economic Times Awards for Corporate Excellence 2023: The biggest stars of India Inc are ready. Are You
The Economic Times Awards for Corporate Excellence 2023 will be held in Mumbai. The event will feature panel discussions, fireside chats with Nirmala Sitharaman and S Jaishankar, and the presentation of awards to various individuals and companies. Key Points
Economic Times
Presenting the winners of The ET Awards for Corporate Excellence 2023
The ET Awards recognize the most innovative and best-performing companies and honour people who have raised the bar for excellence. Watch it live on March 15. Key Points
Economic TimesHeavenly Delusion shines at the 10th Anime Trending Awards; Winners list out
Heavenly Delusion wins Anime of the year at the 2024 Anime Trending Awards. JJK Season 2 and Oshi No Ko also dominate. Key Points
Hindustan TimesUS job growth accelerates in February; unemployment rate rises to 3.9%
February US job growth data shows that economists aren't expecting a recession this year. Despite rash layoffs, employers hope to hold on to their workers. Key Points
Hindustan TimesOnion prices are already high, and there's more bad news
Onion output in the 2023-24 crop year may fall 15.6% to 25.4 million tonnes. Key Points
mintRBI is playing ball by ball; this is the best macro set up we have seen in many years: Shaktikanta Das
Shaktikanta Das, the Governor of the Reserve Bank of India, highlights the need for durable inflation, discusses the positive macroeconomic factors contributing to India's stability and growth, and acknowledges the challenges posed by global debt while emphasizing India's preparedness to deal with them. Das says: I say it with a reasonable amount of confidence based on our internal analysis and research that 7% next year is definitely very much on the table. Key Points
Economic Times
These 9 stocks were ditched by big bulls of Dalal Street in FY24; what should investors do?
Several smallcap stocks were dumped by big bulls, resulting in negative returns for many. Stocks like Automobile Axles, Tarsons Products, TCNS Clothing, and VIP Industries experienced double-digit falls. However, Shaily Engineering Plastics defied the trend and delivered multibagger returns. Key Points
Economic TimesSugar output marginally declines to 25.53 MT so far in this marketing year: ISMA
Sugar production stood at 25.84 MT till February in the year-ago period. Sugar marketing year runs from October to September. In its second estimate, the Indian Sugar Mills Association (ISMA) has projected sugar output to decline by 10 per cent to 33.05 MT in the current 2023-24 marketing year as against 36.62 MT in the previous year. Key Points
Economic TimesEconomic growth to help Maruti grow small car segment; aims to capture 50% SUV market share: Shashank Sriv
Shashank Srivastava predicts a growth of 8.2% in the Indian auto market this year. Maruti Suzuki aims to improve its market share in the SUV segment to reach 50%. Discount levels have decreased, and the future growth of the auto company depends on retail movement due to high inventory levels. Key Points
Economic TimesFiscal gap till January shrinks
The central government contained its fiscal deficit in the 2023-24 financial year at 63.6% of the revised target despite a moderation in nominal GDP growth. The deficit dropped 7.3% from a year ago period to ₹11.03 lakh crore. Revenue spending moderated while capital spending remained lower than the revised target. Key Points
Economic TimesIndia's April-January fiscal deficit at Rs 11.03 lakh crore, narrows on-year to 63.6% of revised FY24 aim
India's fiscal deficit for April to January, or the first 10 months of this fiscal year, was at 11.03 lakh crore rupees, equivalent to 63.6% of annual estimates, narrowing from the previous year's 67.8%. The government aims to narrow the fiscal gap to 5.8% of GDP in this financial year from 6.4% a year earlier. Key Points
Economic Times
How Leap Years are viewed across the globe: From curses to proposals
From curses to proposals: In many countries, February 29 is riddled with bad luck. But in some places, it is seen as an opportunity for women in love. Key Points
Hindustan TimesJapan population down by largest margin in 2023, births at record low
The fast pace of dip in newborns has been attributed to late marriages and people staying single.. The number of babies born in Japan in the year 2023 fell to... Key Points
The Tribune India16 smallcap stocks with over 100% growth in profit & sales. Watchlist these tiny tornadoes!
India Inc's December quarter earnings showed weakening profit momentum at an overall level but we filtered out a list of 16 smallcap companies which reported over 100% growth in sales and profit on a YoY basis. Waaree Renewable Technologies, Advait Infratech, Cressanda Railway Solutions, and Swelect Energy Systems were among the top performers. 14 out of 16 of these stocks have already given multibagger returns in last one year. Key Points
Economic TimesHong Kong Sees 2024 Growth Range at or Below Last Year
Hong Kong expects its economy to grow in a range of 2.5% to 3.5% this year, suggesting a potentially slower rate of expansion as the financial hub tries to bolster a struggling housing market and attract more tourism and investment. Key Points
Hindustan TimesSingapore Property Giants Hit by High Rates, Global Downturn
Singapore property giants City Developments Ltd. and CapitaLand Investment Ltd. reported bigger-than-expected declines in full-year profits, after being battered by high interest rates and a global real estate downturn. Key Points
Hindustan Times
View: India’s EV revolution is driven from the bottom up
India's urban landscape is rapidly evolving, especially in its bustling cities. A decade ago, the iconic auto-rickshaws were predominantly diesel-powered, with electric versions being a rare novelty. Fast forward to today, and Delhi leads the charge in transitioning to battery-powered three-wheelers, capturing 54% of the market. This shift is driven by the cost-effectiveness and efficiency of electric models, prompting even Uber's CEO to explore the trend. The financial allure of electric vehicles extends beyond three-wheelers, with manufacturers now eyeing the two-wheeler market. This shift, if replicated, could significantly impact India's oil demand, especially in the face of rising fuel prices. Key Points
Economic TimesTS Inter Hall Ticket 2024 to be out soon on tsbie.cgg.gov.in: Check steps to download, exam schedule here
TS Inter Hall Ticket 2024: Once released candidates can find the hall ticket on the official website tsbie.cgg.gov.in. Key Points
mintNew enrollment in EPF and ESIC hit over three-month high; NPS declines
The average new additions in the third quarter of the fiscal were still lower than in the first half of the year, given the easing of economic activity. Experts estimate that growth likely eased below 7% in Q3FY24, compared with 7.7% average for the first half of the year. Key Points
Economic TimesIn just one year, over 67000 jobs gone at Infosys, TCS, Wipro and Tech Mahindra
2023 was a challenging year for tech professionals across the globe due to large-scale layoffs announced by various tech companies. Four IT giants - Infosys, TCS, Wipro and Tech Mahindra - alone laid off over 67,000 employees. Key Points
India TodayNearly all wealth gained by world's rich this year comes from AI
International Business News: Nvidia's market value surpasses Intel's as AI-related stocks rally. Lisa Su, CEO of AMD, becomes billionaire. AI craze dominates stock market; 30 of t Key Points
Times Of India
Google Filing Reveals It Slashed Spending on Acquisitions in 2023
As interest rates and antitrust pressure climbed in 2023, Alphabet made no major acquisitions for the first time in years. Apple, Amazon, and Meta also curbed dealmaking. Key Points
WIREDPeople's Choice Awards 2024 winners full list: Barbie, Taylor Swift win big
The 2024 People's Choice Awards, hosted by Simu Liu, featured 45 categories. Winners included Pedro Pascal, Ice Spice, Barbie, and Grey's Anatomy. The awards were broadcasted live on NBC, Peacock, and E! channels from Barker Hangar in Santa Monica, California. Adam Sandler received the People's Icon Award, and Lenny Kravitz received the Music Icon Award. Key Points
Economic TimesRashmika Mandanna, Radhika Madan, Dot make it to 2024 Forbes list of 30 under 30
Forbes has unveiled its annual list of 30 “disruptors and trailblazers” under the age of 30. It includes actors Rashmika Mandanna, Radhika Madan and Dot. | Bollywood Key Points
Hindustan TimesChina's consumer prices suffer steepest fall since 2009 as deflation risks stalk economy
The consumer price index (CPI) fell 0.8% in January from a year earlier, after a 0.3% drop in December, data from the National Bureau of Statistics (NBS) showed on Thursday. The CPI rose 0.3% month-on-month from a 0.1% uptick the previous month. Key Points
Economic TimesOver 2.16 lakh people earn above Rs 1 crore in Assessment year 2023-24: Pankaj Chaudhary
India witnesses a remarkable rise in individuals earning over Rs 1 crore annually, reaching 2.16 lakh for the 2023-24 Assessment Year. Minister Pankaj Chaudhary unveils a positive trend in high-income earners, with significant growth since 2019. Additionally, there's an uptick in 'Profession' income reporting. Finance Minister Sitharaman notes a 27.6% year-on-year increase in personal income tax collections, attributing it to tax reforms and enhanced compliance measures, painting a promising picture for India's economic trajectory. Key Points
Economic Times
India to remain on alert for 'hot money' after bond index inclusion
India will monitor flows of foreign funds after its inclusion into JPMorgan's emerging market debt index to prevent 'hot money' and volatility in currency and bond markets. The government's concern is with longer-term investors who exit passively without reflecting economic conditions. India plans to raise nearly 200 billion rupees through sovereign green bonds in the 2024/25 fiscal year, maintaining a similar level as last year Key Points
Economic TimesDollar drifts, Aussie gains on prospect of rate hike
By Ankur Banerjee SINGAPORE (Reuters) -The U.S. dollar wobbled near a three-month peak as expectations the Federal Reserve is unlikely to cut rates aggressively this year take hold, while the Key Points
ThePrintGrammy Awards 2024 saw best post-pandemic viewership of 16.9M
The upward trajectory of Grammy Awards is in stark contrast to the fate of the Emmy Awards earlier this year, which had a viewership of 4.3 million. Key Points
Hindustan TimesMeta Finally Figures Out How to Sell the Metaverse
Facebook parent’s ad business is booming again, while AI gives better cover to its capital-spending surge. Buybacks and a new dividend don’t hurt either. Key Points
mintIndia’s factory employment crossed pre-pandemic level in FY22, investment also picked up pace
India's factory employment grew by 7% in FY22, surpassing the pre-COVID level, as per the Annual Survey of Industries. Investments and output also increased, indicating the country's recovery from the pandemic. The manufacturing sector showed resilience after the adverse effects of the pandemic, with a marginal fall in employment in 2020-21. Key Points
Economic Times
Jeff Bezos to sell up to 50 million Amazon shares by January 2025
The sale plan, which is subject to certain conditions, was adopted on Nov. 8 last year and will be completed by Jan. 31, 2025, according to the company's latest annual report. Key Points
Economic TimesGoogle Parent Alphabet's Spending on Acquisitions Cratered in 2023
As interest rates and antitrust pressure climbed in 2023, Alphabet made no major acquisitions for the first time in years. Apple, Amazon, and Meta also curbed dealmaking. Key Points
WIREDInterim budget continues govt's focus on capex, allocates more for MNREGA to ease rural distress
Capital expenditure for next FY is achievable but could be challenging given this year's under-achievement. Moreover, rise of interest payments doesn't bode well for quality of expenditure. Key Points
ThePrintView: Budget sparkles, minus fireworks
For any economy to grow at this rate when so many others are sinking is notable. Pakistan, Sri Lanka and Bangladesh — all Indias neighbours — have been obliged to seek emergency assistance from the IMF. All politicians boast, but Sitharaman actually has something to boast about. Key Points
Economic TimesSanjiv Bhasin says RBI directive on Paytm a big blow; offers 3 dark horse picks for investors
Paytm's impact on the UPI setup and the digital app performance is a big blow with short-term repercussions. The manufacturing push, including the PLI scheme, is a major reform that will continue India's outperformance. The rural theme is gaining momentum with stable interest rates, moderating inflation, and good crop performance. The government's ability to balance economic and political factors is evident. Three stock ideas include Indiabulls Real Estate, which has a good risk-reward potential with the Embassy merger; Capri Global, an asset-light NBFC with strong growth prospects; and IOC, a largecap stock expected to double its profit this year. Key Points
Economic Times
Fiscal deficit until Dec at 55% of annual target
India's fiscal deficit for the first three quarters of the fiscal year reached 55% of the annual target, down from 58.9% the previous year. The fiscal gap until December 2023 stood at ₹9.82 lakh crore, compared to ₹9.92 lakh crore a year earlier. The government maintained control over revenue spending, which eased for the fourth consecutive month in December. Capital spending, however, increased by 37.5% to ₹6.74 lakh crore until December, representing 67.3% of the annual target. The fiscal gap in December alone widened to ₹75,694 crore, more than five times the November level. Key Points
Economic TimesIndia's April-December fiscal deficit at ₹9.82 lakh crore, 55% of FY24 target
Total expenditure during the period was 30.54 trillion rupees, or about 68% of the annual goal, compared with 28.18 trillion rupees in the same period last year Key Points
mintBudget 2024: Government focus on Infrastructure, housing for all, to boost demand for cable & wire industry- R R Kab
Budget 2024: Government focus on Infrastructure, housing for all, is likely to boost demand for cable & wire industry, said Rajesh Jain, Chief Finance Officer of R R Kabel. The company is on track to see revenue growth of 20% and margin expansion of 140 bps during FY24, as per Jain. Key Points
mintSmallcap stock screener: FIIs, mutual funds consistently buying these 9 counters
The trend of smallcaps and midcaps outperforming largecaps continues into the new year. A screener reveals 9 smallcap stocks with consistent buying from mutual funds and FIIs in the last four quarters of 2023. Notably, Electronics Mart India, Ion Exchange (India), Bharat Bijlee, Prism Johnson, Procter & Gamble Health, Five-Star Business Finance, Carborundum Universal, BASF India, and Hindware Home Innovation have all seen increased institutional investor interest. These stocks have shown significant growth over the past year and are expected to benefit from various factors, including strong demand and industry tailwinds. Key Points
Economic TimesConsumer companies likely to see high single-digit pay hikes
Pay hikes in 2024 for consumer companies are expected to be in high single digits, slightly lower than last year. The slowdown in rural demand and competition from regional players have impacted the pay hikes. The projected salary increments for this sector will be in the range of 8.5-9.8%, stable compared to the last three years. Last year, pay hikes were better after two years of disruptions caused by the pandemic. Key Points
Economic Times